Charlie Munger’s Advice To Avoid Confirmation Bias

There are many different behavioral and psychological factors that can impact an investors' decision-making process. Confirmation bias can be one of the more damaging.

Q1 2020 hedge fund letters, conferences and more

Confirmation biases impact how we gather knowledge and influence how we interpret and record information. The fact that it can have such a significant impact on all elements of the information gathering and decision-making process makes it extremely challenging to overcome and damaging if left unchecked.

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Simply put, confirmation bias is the tendency to search for...